Type:Notice
Citation:86 FR 1111
Reading Time:about a minute or two
The Federal Reserve System is considering applications from companies that want to become or acquire bank holding companies under the Bank Holding Company Act of 1956. The notice mentions that these applications are available for public review at the selected Federal Reserve Banks and online. Comments from the public regarding these applications must be submitted by February 8, 2021. An example applicant listed is Marathon MHC and Marathon Bancorp, Inc. from Wisconsin, which seeks to acquire Marathon Bank as part of a transition from a mutual to a stock form.
Simple Explanation
The people at the Federal Reserve are looking at companies that want to own banks. They are asking folks to share their thoughts by February 8, 2021, but it's not clear how that works.